Singapore-based First Ship Lease Trust Management (FSLTM) has recovered $6mn in deposits for two of its oil product tankers, which were impounded last month amid allegations of unpaid bunker fuel bills.
The 47,470t Nika 1 was detained in Qingdao, China on 8 June by bunker supplier Daxin Petroleum amid allegations that Daxin has not been paid for fuel it supplied to the vessel. The 47,470t Verona 1 was impounded in Japan's Shimotsu on 4 June for similar reasons. The vessels had been chartered to Mesino Shipping and Rovina Shipping, both affiliates of Cyprus-based Groda Shipping and Transportation.
Groda Shipping and Russian oil firm Rosneft had leased the Verona 1 and Nika 1 in November 2007 for a period of seven years with an extension option for a further three years. The vessels are the only two leased to Groda by FSLTM.
At the time of the seizures FSLTM said it had not received full lease rental payments from May.
FSLTM has received $6mn cash pursuant to the redelivery of the vessels the cash served as security deposits for the contract fulfilment by the charterers, said FSLTM. The amount has now been released to FSLTM upon the expiry of the stipulated default notice period.
The Verona 1 has been released following its seizure in Japan, although the Nika 1 is thought to be still impounded in China. The Nika 1 will be renamed FSL Hamburg and the Verona 1 will be renamed FSL Singapore.
FSLTM is a business trust that owns 23 vessels comprising tankers, container ships and dry bulk carriers. The trust leases its vessels on long-term bareboat charters, without any crew, to international shipping companies.
The 47,470t Nika 1 was detained in Qingdao, China on 8 June by bunker supplier Daxin Petroleum amid allegations that Daxin has not been paid for fuel it supplied to the vessel. The 47,470t Verona 1 was impounded in Japan's Shimotsu on 4 June for similar reasons. The vessels had been chartered to Mesino Shipping and Rovina Shipping, both affiliates of Cyprus-based Groda Shipping and Transportation.
Groda Shipping and Russian oil firm Rosneft had leased the Verona 1 and Nika 1 in November 2007 for a period of seven years with an extension option for a further three years. The vessels are the only two leased to Groda by FSLTM.
At the time of the seizures FSLTM said it had not received full lease rental payments from May.
FSLTM has received $6mn cash pursuant to the redelivery of the vessels the cash served as security deposits for the contract fulfilment by the charterers, said FSLTM. The amount has now been released to FSLTM upon the expiry of the stipulated default notice period.
The Verona 1 has been released following its seizure in Japan, although the Nika 1 is thought to be still impounded in China. The Nika 1 will be renamed FSL Hamburg and the Verona 1 will be renamed FSL Singapore.
FSLTM is a business trust that owns 23 vessels comprising tankers, container ships and dry bulk carriers. The trust leases its vessels on long-term bareboat charters, without any crew, to international shipping companies.
